| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 31st | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 702 E Lindsay St, Greensboro, NC, 27401, US |
| Region / Metro | Greensboro |
| Year of Construction | 2005 |
| Units | 84 |
| Transaction Date | 2017-06-13 |
| Transaction Price | $2,782,500 |
| Buyer | 425 Stedman Street LLC |
| Seller | MSCI 2006-HQ8 Stedman Street LLC |
702 E Lindsay St Greensboro Multifamily Investment
2005-vintage, 84-unit asset positioned near downtown Greensboro with steady renter demand signals, according to WDSuite s CRE market data. Neighborhood rents have trended upward over five years, while newer construction versus local stock supports competitive positioning.
Located in Greensboro s inner-suburb fabric, the property benefits from a renter-leaning neighborhood profile. The share of housing units that are renter-occupied is high (ranked 9th among 245 metro neighborhoods; 96th percentile nationally), indicating a deep tenant base that typically supports multifamily absorption and day-to-day leasing activity.
Rents in the neighborhood have risen meaningfully over the past five years, and restaurants are comparatively dense (84th percentile nationally) with grocery access above metro norms. Parks, cafes, and childcare options are more limited, which may curb some lifestyle appeal; however, average school ratings sit slightly above the national median (3.0 out of 5; 61st percentile), offering a balanced livability profile for workforce households.
The area s housing stock skews older (average year 1969), making a 2005 build relatively newer, which can reduce near-term capital needs and help with renter preferences relative to legacy inventory. Neighborhood occupancy runs below the metro median today (ranked 217 of 245; 24th percentile nationally), but it has improved over the last five years a trend worth monitoring for lease-up and renewal strategies.
Within a 3-mile radius, demographic data indicate modest population growth with a forecasted increase in both population and households over the next five years. A growing household count points to a larger tenant base and supports occupancy stability, while smaller projected household sizes can reinforce demand for professionally managed apartments. In a high-level commercial real estate analysis context, elevated ownership costs relative to incomes locally tend to sustain reliance on rentals, supporting pricing power when managed alongside renewal and retention practices.
Neighborhood safety indicators sit near the national middle (50th percentile nationally). Within the Greensboro-High Point metro, the area ranks 84 out of 245 neighborhoods, placing it around the metro s mid-range. Recent trend data from WDSuite show notable year-over-year declines in both property and violent offense estimates, which is a constructive directional signal. Conditions can vary by block and over time, so investors typically underwrite with recent trendlines and property-level measures in mind.
Proximity to established corporate employers supports commute convenience and a steady renter pipeline. The following headquarters and offices shape the area s employment base and can aid leasing durability for workforce-oriented units.
- VF apparel HQ (3.2 miles) HQ
- Laboratory Corp. of America diagnostics HQ (18.9 miles) HQ
- Reynolds American consumer goods HQ (26.3 miles) HQ
- BB&T Corp. financial services HQ (26.4 miles) HQ
- Hanesbrands apparel HQ (28.4 miles) HQ
702 E Lindsay St offers 84 units averaging roughly 976 square feet, built in 2005 a relative advantage versus the neighborhood s older 1960s housing stock. This newer vintage can reduce near-term capital expenditure exposure while positioning the asset competitively against legacy properties. The surrounding neighborhood shows a high renter-occupied share, reinforcing depth of demand, and five-year rent momentum has been constructive. According to CRE market data from WDSuite, neighborhood occupancy sits below the metro median but has improved over time, suggesting prudent lease management can capture incremental stability.
Within a 3-mile radius, population has grown and households are projected to increase further, expanding the renter pool and supporting absorption. Elevated ownership costs relative to local incomes help sustain reliance on rentals, although rent-to-income levels signal affordability pressure that warrants conservative renewal and pricing strategies. Net-net, the thesis centers on demand depth, relative product quality for the submarket, and disciplined operations to navigate occupancy and affordability risk.
- Newer 2005 construction versus local average supports competitive positioning and moderates near-term CapEx.
- High neighborhood renter-occupied share indicates a deep tenant base for multifamily demand.
- 3-mile radius outlook shows growing households and an expanding renter pool to support absorption and occupancy stability.
- Elevated ownership costs relative to incomes can reinforce rental demand and pricing power when renewals are managed carefully.
- Risks: below-metro occupancy and rent-to-income pressure require disciplined leasing, renewal strategy, and expense control.